Layout Rete ... Body) v11 " A B I U ON A Question 5. (20 marks) The most recent financial statements for Fleury, Inc., follow. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? Fleury Inc. 2011 Income Statement Sales Costs Other expenses Earning before interest and taxes Interest paid 743,00 0 578,00 0 15,200 149,80 0 11,200 138,60 Taxable income Taxes 48,510 90,090 Net Income Layout Rete ... Body) v11 " A B I U ON A Question 5. (20 marks) The most recent financial statements for Fleury, Inc., follow. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? Fleury Inc. 2011 Income Statement Sales Costs Other expenses Earning before interest and taxes Interest paid 743,00 0 578,00 0 15,200 149,80 0 11,200 138,60 Taxable income Taxes 48,510 90,090 Net Income